Covenant Asset Management LLC Grows Holdings in Honeywell International Inc. (HON)

Covenant Asset Management LLC raised its stake in Honeywell International Inc. (NYSE:HON) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,699 shares of the conglomerate’s stock after buying an additional 353 shares during the quarter. Honeywell International accounts for about 1.4% of Covenant Asset Management LLC’s holdings, making the stock its 16th biggest position. Covenant Asset Management LLC’s holdings in Honeywell International were worth $2,367,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in HON. Assetmark Inc. increased its stake in Honeywell International by 30.2% in the 1st quarter. Assetmark Inc. now owns 1,225 shares of the conglomerate’s stock valued at $153,000 after buying an additional 284 shares during the period. Legacy Capital Partners Inc. increased its stake in Honeywell International by 0.9% in the 1st quarter. Legacy Capital Partners Inc. now owns 6,631 shares of the conglomerate’s stock valued at $828,000 after buying an additional 56 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Honeywell International by 2.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,905 shares of the conglomerate’s stock valued at $3,609,000 after buying an additional 821 shares during the period. Ingalls & Snyder LLC increased its stake in Honeywell International by 17.8% in the 1st quarter. Ingalls & Snyder LLC now owns 6,887 shares of the conglomerate’s stock valued at $860,000 after buying an additional 1,039 shares during the period. Finally, Keybank National Association OH increased its stake in Honeywell International by 4.4% in the 1st quarter. Keybank National Association OH now owns 332,130 shares of the conglomerate’s stock valued at $41,474,000 after buying an additional 14,130 shares during the period. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Honeywell International Inc. (HON) opened at $154.73 on Thursday. Honeywell International Inc. has a 12 month low of $115.42 and a 12 month high of $156.70. The company has a market cap of $116,632.05, a price-to-earnings ratio of 22.17, a PEG ratio of 2.56 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.35.

Honeywell International (NYSE:HON) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. The business had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. Honeywell International’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 EPS. research analysts forecast that Honeywell International Inc. will post 7.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a dividend of $0.745 per share. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 16th. Honeywell International’s dividend payout ratio is currently 45.15%.

Honeywell International announced that its board has initiated a stock buyback program on Friday, December 8th that permits the company to buyback $6.50 billion in shares. This buyback authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several research analysts have recently commented on HON shares. Royal Bank of Canada increased their price target on shares of Honeywell International to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Stifel Nicolaus dropped their price target on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Oppenheimer increased their price target on shares of Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Jefferies Group restated a “buy” rating and set a $155.00 price target on shares of Honeywell International in a research note on Thursday, September 28th. Finally, Citigroup set a $180.00 price target on shares of Honeywell International and gave the stock a “buy” rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $159.79.

In related news, Director Bradley T. Sheares sold 1,328 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the sale, the director now directly owns 4,002 shares of the company’s stock, valued at approximately $585,932.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Krishna Mikkilineni sold 13,074 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the sale, the vice president now directly owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.

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About Honeywell International

Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.

Institutional Ownership by Quarter for Honeywell International (NYSE:HON)

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